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3 November, 09:01

A company paid $225,000 in sales tax to the government from its auction sales last year, but later found out it over paid 25%. How much money should the company claim back from the government?

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  1. 3 November, 09:26
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    Given that the company paid a tax of $225,000 to the government and they found that they had overpaid by 25%, the amount that the company should claim from the government is:

    (% overpayment) / (100%) * (amount paid)

    =25/100*225000

    =$56,250

    Therefore the amount of company the company is claiming from the government is $56,250
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